47-10-7. Promotion of local development corporations.
Subject to §47-10-2, any business development credit corporation shall have the power to promote the establishment of local industrial development corporations in the various communities of the state, to enter into agreements with them, and to cooperate with, assist and otherwise encourage such local foundations.
Source: SL 1957, ch 314, §2; SDC Supp 1960, §55.6002 (5).